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BEM test 1

QuestionAnswer
Value Relationship between the price of a good or a service and the benefits that it offers its customers
Profit Money earned by a business in sales minus expenses
Loss When expenses are greater than revenue
Standard of living the goods and services and how they are offered to communities
Quality of life Focuses on well being of an individual or group
Factors of Production Human resources, Entrepreneurship, Natural resources, Capital
Human resources Physical, intellectual and creative contributions
Entrepreneurship People that take the risk of opening and running their own business, they also create opportunities for others
Natural resources Inputs that offer value in their natural state
Capital Resources manipulated by humans to better a business
Created by: lydiab9
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